Replies to post #106331 on Liberty Star Uranium and Metals Corp (LBSR)

[Zilidium]

September '09 1:4 split

[daleb2130]

He also emphasized that there would never be a R/S. He felt that the one that was done in the past was a mistake not to be repeated. He felt it was ineffective in achieving a sustained increase in the pps, was unfair to shareholders, and just plain wrong.

HKipp1 Share Monday, July 16, 2012 12:47:24 AM
Re: hawk flying post# 101171 Post # of 101196

I, too, was fortunate enough to be able to attend today's NYC meeting. I think at any such meeting, the measure of the man is as important as any news. In this, JB excelled. First, any speaker who could hold an audience's interest for five hours is pretty good, right off the bat. He is both scholarly and folksy. I have spoken with him many times, but it was my first chance to meet him in person. And I have to say, I was very impressed. He repeatedly emphasized the importance of honest and forthright behavior. Also, inadvertently, his ability to cooly deal with adversity was demonstrated when a hotel staffer had an excruciatingly long, almost comical struggle and wrestling match with the movie screen which he was trying to set up. And then, there were problems with the projector itself. But rather than getting flustered, JB worked through the problems with aplomb, and really didn't miss a beat.

In addition to LBSR specifics, it was a combined history lesson and geology lesson, sprinkled with many anecdotes about his own experiences, as others have described. I certainly had a lot to learn about geology but also we learned about how the Apaches are related to the Iliamna Native Americans and how their history, oral traditions and memory of what they consider the recently settled (only about a hundred years ago) Indian Wars, still impact their dealings. This is not just academic, and this understanding and knowledge has influenced JB's interactions with the Native Alaskans and- in contrast to other players in the area- has resulted in an excellent relationship with them.

Out of this discussion came what I thought was one of the most important specifics that was news for me. Namely- that he has proposed offering a JV type arrangement or at least some partial ownership agreement to the Native Alaskan corporations. While they have received royalties for their resources in other areas, this is apparently one of the first times they have been offered an actual ownership stake in such a project. Just one of several funding possibilities- and definitely just a proposal at this stage- but it has the added benefit of making them stake holders and in one fell swoop evaporating their opposition and transforming them into strong allies. Brilliant.

Other specifics I recollect include- definitely Big Chunk drilling starting soon- preferably with private placement funds, but supplemented with Fairhill funds if needed such that drilling is going forward in any case. Permitting is in progress and running into winter is not a problem. Drilling must begin soon to meet claim maintenance requirements.

I also heard the $1 million figure mentioned as the amount of private placement funds secured thus far.

He also emphasized that there would never be a R/S. He felt that the one that was done in the past was a mistake not to be repeated. He felt it was ineffective in achieving a sustained increase in the pps, was unfair to shareholders, and just plain wrong.

I thought it was an excellent meeting and it gave me great confidence that these will be be an exciting and profitable next few months.